Deals
Turkcell Feud Unresolved as Fridman Buyout Option Expires
- Russian billionaire says stake wasn’t made available
- Lack of deal stems from battle for control of Turkish carrier
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Mikhail Fridman’s option to buy out Mehmet Emin Karamehmet from Turkey’s largest wireless carrier expired without action, prolonging a decade-long stalemate between the two billionaires.
Karamehmet’s Cukurova Holding AS didn’t offer its stake in Turkcell Iletisim Hizmetleri AS to Fridman’s LetterOne before an arbitration court-stipulated deadline lapsed on Monday, according to an e-mailed statement from LetterOne.